Abu Dhabi plans to increase the production capacity of its Upper Zakum oilfield to 1 million barrels per day (b/d) by 2024, Reuters reports.
Abu Dhabi National Oil Company (ADNOC) Exxon Mobil, and Impex Corporation signed an agreement to increase the field’s production on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), according to Reuters.
The Upper Zakum oilfield is the fourth largest oilfield in the world, according to a statement released by ADNOC, the news agency reports.
The company had previously announced plans to increase production from the field to 750,000 b/d in 2017/2018, according to the Reuters.
ADNOC also announced that it will increase production from its Bab oilfield by 30,000 b/d to 450,000 b/d by 2020, Reuters reports. The company signed a contract with China Petroleum Engineering & Construction Corporation to perform work on the project.